Question
The current asset section of the Excalibur Tire Companys balance sheet consists of cash, marketable securities, accounts receivable, and inventory. The December 31, 2021, balance
The current asset section of the Excalibur Tire Companys balance sheet consists of cash, marketable securities, accounts receivable, and inventory. The December 31, 2021, balance sheet revealed the following: Inventory $ 1,000,000 Total assets $ 4,000,000 Current ratio 2.20 Acid-test ratio 1.40 Debt to equity ratio 1.5 Determine the following 2021 balance sheet items:
a. Current Assets?
b. Shareholder's Equity?
c. Long-term assets?
d. Long-term liabilities?
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A History Of Accountancy In The United States
Authors: Gary John Previts, Barbara Dubis Merino
98th Edition
0814207286, 978-0814207284
